Kraken Robotics closes $10 million bought deal financing

2 minute read
26 July 2021

On July 26, 2021, Kraken Robotics Inc. ("Kraken Robotics" or the "Company") (TSXV: PNG) (OTCQB: KRKNF) announced that it had closed its previously announced "bought deal" short form prospectus offering of units for gross proceeds of $10 million. The offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp. and including Raymond James Ltd., Desjardins Securities Inc., Beacon Securities Limited, and Research Capital Corp. The offering was made by way of a prospectus supplement dated July 22, 2021 to the Company's existing short form base shelf prospectus dated April 6, 2021. 

Kraken Robotics is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The Company is headquartered in Newfoundland with operations in Canada, the US, Germany, Denmark and Brazil, and is ranked as a Top 100 marine technology company by Marine Technology Reporter.

Gowling WLG advised Kraken Robotics with respect to this offering with a team that included Ian Mitchell, Pierre Lissoir and Josh Rosen.

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